The expansion of TD’s AI research and development center will power enhanced customer experiences for U.S. customers and colleagues

As AI continues to transform how businesses operate, TD Bank, America's Most Convenient Bank^®, today announced TD Bank Group will open a new Layer 6 office in New York City.

As TD's AI research and development center, Layer 6 has driven TD’s ability to deploy advanced Machine Learning solutions since it was acquired by TD in 2018. Currently operating from its head office in Toronto's MARS Innovation District, the new Layer 6 office will now grow to more closely support TD Bank, America’s Most Convenient Bank^®, as well as TD’s other U.S. based operations. It will also allow TD to take advantage of an expanded pool of world-class talent and further cement its leadership and competitive advantage driving innovation in banking through AI. The Layer 6 office will formally open later in 2025 with a mixture of an initial 20 data scientists, applied machine learning scientists, GenAI implementation specialists, and others, who will sit at TD’s New York office, One Vanderbilt.

“Our U.S. expansion of Layer 6 underscores our commitment to deepening our presence in New York City and investing in the future of innovation,” said Leo Salom, President and CEO of TD Bank. “The new Layer 6 office establishes a strong foundation for advancing our GenAI capabilities and bringing critical expertise and delivery in-house. It represents an exciting step forward for TD, our colleagues, our customers, and the communities we serve. We look forward to growing this operation to support increasing business demand across the U.S.”

TD continues to deploy and scale AI technology to meet both growing customer expectations for personalization, and the business's need to streamline process execution.

“Our commitment to being a leader in the AI space puts TD at the forefront of banking innovation, and Layer 6 is critical to our ability to deliver that innovation for our customers,” said Luke Gee, Chief Analytics & AI Officer at TD. “With recent advances in areas like Generative AI, we continue to leverage the potential of this game-changing technology through the work of colleagues across the Bank, with Layer 6 continually driving thought leadership and breaking new ground. We are excited to announce the next major step in this journey.”

About TD Bank, America's Most Convenient Bank^®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth^®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.

TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.

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"Our U.S. expansion of Layer 6 underscores our commitment to deepening our presence in New York City and investing in the future of innovation,” said Leo Salom, President and CEO of TD Bank.